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Regina Housing Starts Relatively Stable in March

REGINA, SASKATCHEWAN--(Marketwired - April 8, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,291 units in March compared to 1,281 in February, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of total housing starts.

"The trend in total housing starts moved up slightly in March after local builders increased production of single-detached units. Despite trending lower so far in 2016, there are signs that overall housing starts in Regina may be stabilizing after a sharp decline in the previous year," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 1,004 units in March, down from 1,510 in February. The decline in overall actual housing starts in March was led by the multiples sector where 26 units were started, compared to 96 a year earlier.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.